Industrials
Waste Management
$63.71B
41K
Key insights and themes extracted from this filing
The company's revenue increased by 10.8% year-over-year, reaching $14,964.5 million, primarily due to a 6.1% increase in average yield, a 4.8% contribution from acquisitions and a 0.5% increase in volume. However, recycling processing and commodity sales decreased revenue by 0.5% and fuel recovery fees decreased by 0.2%.
Operating income increased to $2,780.2 million, up from $2,391.7 million in the prior year, reflecting improved profitability. However, the company also incurred $33.2 million in restructuring charges.
Net income attributable to Republic Services, Inc. increased to $1,731.0 million, up from $1,487.6 million in the prior year. Diluted earnings per share was $5.47 compared to $4.69 in 2022. This is despite a $4.5 million charge related to a withdrawal from a multiemployer pension fund.